Management tracks: Novartis, Aileron

Editor's Note: This article was updated on May 17, 2018 at 9:55 AM PDT

Novartis AG (NYSE:NVS; SIX:NOVN) said General Counsel Felix Ehrat will retire, effective June 1, in light of Novartis' payments to a consultancy owned by Michael Cohen. "As a co-signatory with our former CEO, I take personal responsibility to bring the public debate on this matter to an end," he said in a statement. He will be succeeded by Chief Ethics, Risk and Compliance Officer Shannon Thyme Klinger (see BioCentury Extra, May 9).